Richard Snow (Trades, Portfolio), founder, president and CIO of Snow Capital Management LP, reduced his stakes in two companies in May – Carbo Ceramics Inc. (CRR, Financial) and OFG Bancorp (OFG, Financial).
Snow trimmed his stake in Carbo Ceramics, a Houston-based oilfield services company, by more than 62% on May 11. The guru sold 842,448 shares for $11.59 per share, leaving him with a stake of 512,041 shares. The transaction had a -0.43% impact on Snow’s portfolio.
Snow remained Carbo Ceramics’ leading shareholder among the gurus after the sale. His stake is 2.18% of Carbo Ceramics’ outstanding shares and 0.26% of Snow’s total assets.
Carbo Ceramics has a P/B of 0.5 and a P/S of 1.3. GuruFocus gives Carbo Ceramics a Financial Strength rating of 6/10 and a Profitability and Growth rating of 4/10 with an ROE of -15.42% that is lower than 63% of the companies in the Global Oil & Gas Equipment & Services industry and an ROA of -12.02% that is lower than 73% of the companies in that industry.
Carbo Ceramics sold for $14.86 per share Thursday afternoon. The DCF Calculator gives Carbo Ceramics a fair value of $-49.01.
Snow reduced his stake in OFG Bancorp, a San Juan, Puerto Rico-based financial holding company, by nearly 17%, selling 391,722 shares for $9 per share on May 25. The deal had a -0.16% impact on Snow’s portfolio.
The remaining stake of 1,941,717 shares is 4.42% of OFG Bancorp’s outstanding shares and 0.77% of Snow’s total assets. Snow is OFG Bancorp’s leading shareholder among the gurus.
OFG Bancorp has a P/B of 0.5 and a P/S of 1.2. GuruFocus gives OFG Bancorp a Financial Strength rating of 6/10 and a Profitability and Growth rating of 7/10 with an ROE of 0.09% that is lower than 92% of the companies in the Global Banks – Regional – U.S. industry and ROA of 0.20% that is lower than 87% of the companies in that industry.
OFG Bancorp sold for $8.73 per share Thursday. The DCF Calculator gives OFG Bancorp a fair value of $-1.28.
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